Friday, November 09, 2007

Debt and more debt

In today's Columbus Dispatch, Richard Cordray, Ohio treasurer, proposes funding bonuses for veterans through a $200 million state bond issue.

Should veterans get a bonus? No. They earn a salary just like the rest of us.

Government money isn't Cordray's to give, propose, pledge, etc. It's simply money that is forcibly taxed from residents, whether they like it or not. Would veterans really want a gift taken in such a manner? I certainly hope not.

Dear Editor:

Regardless of one's position on bonuses for veterans ("Treasurer proposes bonuses for Ohio vets," The Dispatch, Nov. 7, 2007), Richard Cordray proves that only in government would a chief financial officer propose the use of long-term debt financing as the means to fund a current operating expense. I assume that Cordray considers that to be a fiscally responsible stance. And, you wonder how Ohio ever got into its present mess.

Jim Fedako

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